In the United States, we have had an established credit system for a long time. While the system is good at the thing it was designed to do, the world has gotten more complex. The value of a single, combined number when applying for a new cell phone plan, for example, is not the same as the value of that number for a large transaction, like a mortgage. More information is always better than less information when making an important decision. Providing that detailed information is the ultimate goal of BantuFin, a new take on payment reporting.
The system works on a familiar concept of 5-star ratings. But, rather than being a hidden, secret sauce value, you can dig down into the reasons behind the value. To use the previous example of a cell phone account, perhaps the company isn't interested in the credit card you got tricked into in college but instead is only interested to see that you have never defaulted on a wireless carrier before. That information can create a better, more informed decision.
More important than augmenting an aging system in the US, there are countries across the world that have no way of reporting payment history at all. BantuFin can easily integrate into those places and bring a new and important aspect to an emerging economy.
In addition to the reporting features, BantuFin has a host of features for the individual as well. You can see your overall committed expenditures in one place, so you can easily build a financial plan for payments and savings. You can also get a real-time view of your score and the individual aspects that have lead to that score.
BantuFin is available now through invitation. To find out more about the platform, how it works, or to request an invitation, check out their website.
Scott is a developer who has worked on projects of varying sizes, including all of the PLuGHiTz Corporation properties. He is also known in the gaming world for his time supporting the DDR community, through DDRLover and hosting tournaments throughout the Tampa Bar Area. Currently, when he is not working on software projects or hosting F5 Live: Refreshing Technology, Scott can often be found returning to his high school days working with the Foundation for Inspiration and Recognition of Science and Technology (FIRST), mentoring teams and judging engineering notebooks at competitions. He has also helped found a student software learning group, the ASCII Warriors.
Daniele is a student at Florida Polytechnic University who is studying Computer Science with a concentration in Cyber Security. In High School, she was introduced to the science and technology world through the Foundation for Inspiration and Recognition of Science and Technology (FIRST), a robotics foundation where students of varying ages can compete through tasks that their robots perform. With help from mentors she met through FIRST, she became interested in programming and developing. Today, Daniele is a special events host for F5 Live: Refreshing Technology and PLuGHiTz Live Special Events and a co-host for both The New Product Launchpad and FIRST Looks.